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1. Equitable Life Group Benefits Bulletin – November 2020

   In this issue:

   • Telemedicine now included in Travel Assist*
   • Take advantage of our convenient digital options*
   • 2021 changes to Maximum Insurable Earnings, Maximum Weekly Insurable Earnings and Short Term Disability Benefit*

   *Indicates content that will be shared with your clients

   Telemedicine now included in Travel Assist*

   Medical emergencies can be particularly stressful while travelling. Making your way to a medical facility can be a struggle. And once you get there, you could face long wait times, language barriers or even the risk of COVID-19 infection.

   That’s why Allianz Global Assistance^®, our Travel Assist provider, is adding two new virtual care options to provide plan members with timely and appropriate medical support.

   As always, when a travel medical emergency strikes, plan members call Allianz for assistance. During the intake process plan members will be guided through a series of questions to triage their unique medical situation. Options for care now include two different virtual care services:

   • TeleConsultation – Video and chat consultation with a locally licensed physician. This physician can diagnose simple medical conditions and provide a prescription. Available across Canada and in some high travel states in the United States.
   • TeleAdvice – Video and chat consultation for situations which are not likely to require a prescription. The physician can diagnose simple medical conditions and provide medical guidance.

   Plan members who use virtual care may benefit from:

   • Reduced wait times;
   • Care from the comfort of their current location;
   • Reduced language barriers;
   • No need to arrange transportation to a medical facility;
   • Reduced impact on travel itinerary; and
   • Reduced risk of exposure.

   Both TeleConsultation and TeleAdvice will be available for all Equitable Life plan members beginning January 1^st, 2021. There is no additional cost, no changes required to your client’s plans, and no change to the way plan members contact Allianz in the event of a travel medical emergency.

   This PDF plan member update will also be included in the eNews to plan administrators.

   If you have any questions about these new features, please contact your Equitable Life Group Account Executive or myFlex Sales Manager.

   Allianz Global Assistance is a registered business name of AZGA Service Canada Inc. and AZGA Insurance Agency Canada Ltd.

   Help your clients take advantage of our convenient digital options*

   During this time of physical distancing, people are looking for ways to interact with their providers virtually. We recently enhanced our Online Plan Member Enrolment tool, allowing all groups to add new plan members without the need for paper forms.

   Did you know, we have several other digital options available to make it easier for your clients to do business with us and for their plan members to access and use their benefits plan? Over 71% of plan administrators are managing their plan online and 78% of plan members are already using our digital tools.

   For plan administrators:

   • Plan Administrator Portal (EquitableHealth.ca) – plan administrators can easily manage their plan anytime and anywhere
   • Digital Welcome Kits – personalized welcome kits are delivered to plan members via email
   • Easy automated payments – plan administrators can avoid missed payments by setting up pre-authorized debit or electronic funds transfer 

   For plan members:

   • Plan Member Portal (EquitableHealth.ca) – plan members get secure, 24/7 access to their claims history, coverage details and health and wellness resources
   • Electronic Claim Payments and Notifications – plan members can get claim updates sooner in their email inbox and payments right into their bank account
   • EZClaim Mobile App – submitting claims from a mobile device is fast, easy and secure
   • Digital Benefits Cards – plan members no longer have to dig through their wallet – they can download their benefits card on their mobile device

   Learn more about how we’re making it easier for your clients to do business with us

   2021 changes to Maximum Insurable Earnings, Maximum Weekly Insurable Earnings and Short Term Disability Benefit*

   The Canada Employment Insurance Commission and Canada Revenue Agency have announced the 2021 changes to Maximum Insurable Earnings, and premiums for employment insurance. These changes take effect January 1^st, 2021.

   Maximum Insurable Earnings (MIE)

   The MIE will increase from $54,200 to $56,300.

   Maximum Weekly Insurable Earnings (MWIE)

   The MWIE will increase from $1,042 to $1,083.

   EI Benefit (55% of the MWIE, rounded to the nearest dollar)

   EI benefit will increase from $573 to $595

   Information for Plan sponsors

   If your client’s Group Policy with Equitable Life includes a Short Term Disability (STD) benefit which is tied to the EI MWIE, and at least one classification of employees has less than a $595 maximum:

   • To comply with the provisions of their policy, their STD benefit will be revised with the maximums updated based on the percentage of EI MEIW shown in their policy.
   • The additional premium for any increase from their previous STD amounts and new STD amounts will be show on their January 2021 Group Insurance Billing (as applicable).

   If their STD maximum is currently higher than $595 or based on a flat amount (not based on a percentage or regular earnings):

   • No change will be made to their plan unless otherwise directed.

   If your clients wish to provide direction regarding revising their STD maximum, or have questions about the process, they can email Kari Gough, Manager, Group Quotes and Issue.

    

   *Indicates content that will be shared with your clients

2. [pdf] Personalized Brochure - The Equitable Investment Advantage
3. Surrender charges
4. Sales Strategies
5. We hear you. Equitable Life was ranked #1 for overall segregated funds service performance*. Each year, Life Ops Consulting Group conducts an independent survey of financial advisors to find out
   how satisfied advisors are with the service they receive from life insurance companies in Canada. Since 2015, Equitable Life^® has received top marks in overall segregated funds service performance, new business processing, fund/policy statements and post-sales service.
   
   Equitable Life was ranked #1 for overall segregated funds service performance^*
   
   We would like to take this opportunity to thank each of you that took the time to participate in this survey. We are proud of the service that we provide and are committed to listening to what advisors want and need to run their business. We work hard to earn your trust and will do what it takes to keep it.
   
   Thank you.
    

   * Life Ops Consulting Group Distribution Service Satisfaction Survey 2019
   ® denotes a registered trademark of The Equitable Life Insurance Company of Canada.

   
    
6. Did you know that you can generate a report detailing all or some of your client’s investment policy
   This can be a great tool when meeting to review your client’s account.
   
   This easy to read PDF gives you and your client some, or all, of the pertinent policy information to discuss overall investment goals. The reporting tool also allows you to exclude any “Advisor only information” sections. With active links to fund pages, you can even review risk ratings, calendar and compound returns.
   
   Generate the report just prior to your meeting to ensure the most up-to-date information is available to your client. Located in the top right corner of your client’s policy page on EquiNet®, it also makes a great takeaway or follow up for your client before or after your meeting. 
7. Retirement Income Options from Equitable Life
   If you have clients who are reaching retirement age and have a Retirement Savings Plan or locked-in funds from a previous employer, the government requires them to convert these plans by December 31 of the year they turn 71.
    
   If your client is converting a plan, ask them about other existing assets. This is a great opportunity for your client to consolidate assets from other providers; and for you to discuss a lower management fee through Equitable Life’s Pivotal Select Preferred Pricing Program.
    
   For more information on the options available for clients who are reaching retirement age and the advantages of each, check out the following materials.
    
   • When it is time to convert your RSP to a RIF
   • Converting your savings into retirement income
   • Retirement Income Fund Understanding minimum withdrawal percentages
    
   To learn more about Equitable’s Preferred Pricing Program, please click here.
8. Online banking makes RSP season easier
   March 1, 2021 is the deadline for clients to make Retirement Savings Plan (RSP) contributions within the first 60 days and that date is quickly approaching! Why not alleviate some stress by having your clients make their deposits using online banking?
   
   To get started with online banking, clients simply log in to their online bank account and select the option to add a new bill/payee and search for Equitable Life Savings Plan. The Equitable Life savings plan policy number will serve as the account number.
   
   Clients that complete their deposits using online banking don’t have to stress about mailing a cheque. Or worry about whether the money will make it to head office in time for the deadline. Deposits are applied based on the investment direction on file.
   
   Deposits can be made to RSPs as well as Tax-Free Savings Accounts and non-registered accounts. The minimum deposit is $50 per fund and $500 per Guaranteed Deposit Account (GDA).
   
   To learn more, click here. More questions? Reach out to your local Regional Investment Sales Manager.
    
9. Equitable Life Savings & Retirement Webinar Series features Payout Annuities In 2021, Equitable Life’s S&R team will spotlight various aspects of our competitive fund line up and product offerings. Each webinar in the series will feature a new topic. The series will also give advisors an opportunity to:
   • learn more about various products and product features,
   • hear from industry professionals,
   • learn about investment strategies; and so much more.
   This month, Equitable Life is featuring a discussion on Payout Annuities. Hear why payout annuities provide a guaranteed income that is worry-free and receive insights into how a payout annuity can fit into your client’s retirement plan. Learn about the features and advantages a payout annuity can provide to your client.
    
   Join your host, Joseph Trozzo, Investment Sales Vice President as he welcomes Nicole Lemon, Product Manager, Savings and Retirement, Equitable Life of Canada for a discussion on Equitable Life’s Payout Annuities.
    
   Learn more
10. Help your clients this tax season with Equitable Life
    It is tax time, and your clients should be receiving tax slips and deposit receipts by now. Check out the Tax Slips: A Quick Reference Guide which gives a taxation breakdown by product. Review Insights into Non-Registered Taxation that offers a detailed explanation on investment income, and why T3 tax slips generate on non-registered segregated funds. Does your client have questions about contribution limits? Retirement Income Fund minimums? or Canada pension maximums? Check out Equitable’s handy 2022 Facts & Figures guide.
    
    Did your clients sign up for tax slips on Equitable Client Access before December 31, 2021?
    If so, your clients can download or print their tax slips quickly and easily from their Equitable Client Access Inbox.
     
    For questions, contact Equitable's Advisor Services Team Monday to Friday, 8:30 a.m. – 7:30 p.m. ET at 1.866.884.7427 or by email at savingsretirement@equitable.ca. or your Regional Investment Sales Manager.